Feast your eyes on this brand new Italian thoroughbred – it’s the Lamborghini Huracan LP580-2, and it swaps the usual all-wheel drive system for a livelier two-wheel drive set-up.

It’s also the first time we’ve seen it in Australia after its global debut at last year’s Los Angeles auto show.

Under the engine cover is the same deliciously boisterous 5.2-litre V10 naturally aspirated petrol engine found across the entire Huracan line-up, only with the LP580-2, power is down by 23kW and torque by 20Nm, compared to its all-wheel drive siblings. Not that you’d really miss it, though, with engine output peaking at 426kW of power and 540Nm of torque driving the rear wheels.

Lamborghini also claims 405Nm are available from just 1000rpm, meaning, the LP580-2 is capable of blasting from 0-100km/h in 3.4 seconds – just two-tenths slower than the more powerful all-wheel drive LP610. Put that down to better traction off the line.

Top speed is a blistering 320km/h, or 5km/h less than the LP610-4 – so there’s not much in it, really.

And like its Huracan siblings, the LP580-2 features cylinder deactivation, which is able to shut down a bank of five cylinders when full power isn’t required, thereby reducing fuel consumption to 11.9L/100km on a combined cycle.

The engine is paired with Lamborghini’s Doppia Frizione (LDF) seven-speed dual-clutch transmission with launch control function

It also weighs 33kg less, tipping the scales at a surprisingly lean 1389kg – which is slightly less than the current Porsche 911 Carrera S, itself, a celebrated lightweight sports car.

Underneath there are some additional engineering changes, too. It’s got a 40:60 front-to-rear weight distribution instead of the usual 42:58 with the all-wheel-drive versions, which reduces inertia on the front axle for sharper turn-in response.

And there’s a new electronic power steering set up, which Lamborghini’s chief driving instructor, Peter Mueller says, provides such a high level of feedback through the steering wheel “if you run over a coin, you can tell if it’s heads or tails with this car”.

It also gets modified suspension settings as well as reworked stability and traction control systems, specific to the LP580-2’s two-wheel drive system.

The selectable Lamborghini driver control modes – Strada, Sport and Corsa – have also been re-tuned to provide oversteering characteristics rather than the more neutral bias of the LP610-4.

Aerodynamics have also meant changes to the exterior, including newly formed front air intakes that direct cooling air to increase downforce on the front axle.

The latest iteration of the Huracan rides on new 19-inch cast alloys shod with specially developed Pirelli P Zero tyres, measuring 245/35 up front and 305/30s down back, with a slightly harder compound than on the all-wheel drive versions.

Stopping power is also specific to the LP580-2, which uses steel eight-piston calipers with steel rotors up front and four-piston units at the rear.

Inside, it’s pretty much standard Huracan, which is to say it gets the spectacularly theatrical jet-fighter-inspired console and the latest Lamborghini Infotainment System 11, with a 12.3-inch high-resolution TFT instrument panel.

The LP580-2 is a series production variant for Lamborghini and therefore not a limited edition, according to Oceana Country Manager for the brand, Eginardo Bertoli, who spoke exclusively with CarAdvice.

“Our production for Huracan will be divided into one-third Spyder, one-third four-wheel drive and one-third two-wheel drive, more or less”.

“The Lamborghini Huracan LP580-2 is targeted at those customers who are purists, who really want to feel the car on the road. Really expert drivers, I would say”, Bertoli added.

Lamborghini has already confirmed pricing for the LP580-2 at $378,900 plus on-roads – that’s almost 50 grand less than the all-wheel drive LP610-4

CarAdvice will be track testing this new Lambo at Phillip Island next month, so stay tuned.